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Aker BP ASA (AKERBP.OL)

AKERBP.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Aker BP's Q3 production drops to 150,600 barrels of oil equivalents per day
Friday, 5 Oct 2018 

Oct 5 (Reuters) - Aker BP ASA ::AKERBP: THIRD QUARTER 2018 PRODUCTION.PRODUCED 150.6 THOUSAND BARRELS OF OIL EQUIVALENTS PER DAY (MBOED) IN Q3 2018 VS 157.8 MBOED IN Q2 2018.SOME OF PRODUCTION GROWTH THAT WAS EXPECTED FROM VALHALL IN Q3 HAS BEEN MOVED TO COMING QUARTERS.  Full Article

Aker BP buys Total E&P Norge's portfolio of 11 licences for $205 mln
Tuesday, 31 Jul 2018 

July 31 (Reuters) - Aker BP Asa ::AKER BP ACQUIRES LICENCE PORTFOLIO FROM TOTAL.AKER BP HAS ENTERED INTO AN AGREEMENT WITH TOTAL E&P NORGE TO ACQUIRE ITS INTERESTS IN A PORTFOLIO OF 11 LICENCES ON NORWEGIAN CONTINENTAL SHELF FOR A CASH CONSIDERATION OF USD 205 MILLION.PORTFOLIO INCLUDES FOUR DISCOVERIES WITH NET RECOVERABLE RESOURCES OF 83 MILLION BARRELS OIL EQUIVALENTS ("MMBOE"), BASED ON ESTIMATES FROM NORWEGIAN PETROLEUM DIRECTORATE.TWO OF DISCOVERIES, TRELL AND TRINE, ARE LOCATED NEAR AKER BP-OPERATED ALVHEIM FIELD AND ARE EXPECTED TO BE PRODUCED THROUGH ALVHEIM FPSO.ALVE NORD DISCOVERY IS LOCATED NORTH OF AKER BP-OPERATED SKARV FIELD, AND CAN BE PRODUCED THROUGH SKARV FPSO.RIND DISCOVERY IS PART OF NOAKA AREA WHERE TOTAL RECOVERABLE RESOURCES ARE ESTIMATED TO MORE THAN 500 MMBOE, AND WHERE AKER BP IS WORKING TOWARDS A NEW AREA DEVELOPMENT.SAYS THESE NEW RESOURCES WILL FURTHER STRENGTHEN AKER BP'S LONG-TERM PRODUCTION PROFILE AND CONTRIBUTE POSITIVELY TO FUTURE EARNINGS.  Full Article

Norway's Aker BP Q2 lags, firm ups exploration spending
Friday, 13 Jul 2018 

July 13 (Reuters) - Aker BP ASA ::AKER BP Q2 OPERATING PROFIT $552 MILLION (REUTERS POLL $573 MILLION).COMPANY'S NET PRODUCTION IN Q2 WAS 157.8 (142.7) THOUSAND BARRELS OF OIL EQUIVALENTS PER DAY.AKER BP Q2 REVENUES $975 MILLION (REUTERS POLL $1,001 MILLION).AKER BP Q2 NET RESULT $136 MILLION (REUTERS POLL $162 MILLION).AKER BP QUARTERLY DIVIDEND $0.3124 PER SHARE (REUTERS POLL $0.31).AKER BP Q2 PRODUCTION AT 157,800 BOEPD (REUTERS POLL 157,800 BOEPD).COMPANY REMAINS ON TRACK TO REACH ITS FULL-YEAR PRODUCTION ESTIMATE OF 155-160 MBOEPD..BOARD OF DIRECTORS HAS RESOLVED TO PAY SAME DIVIDEND IN AUGUST OF USD 0.3124.PLAN IS TO MAINTAIN THIS LEVEL FOR REMAINDER OF 2018, IMPLYING TOTAL ANNUAL DIVIDENDS OF USD 450 MILLION.BOARD'S AMBITION IS TO INCREASE ANNUAL DIVIDENDS BY USD 100 MILLION PER YEAR UNTIL 2021..AKER BP SEES 2018 PRODUCTION AT 155,000-160,000 MBOEPD VERSUS PREVIOUS GUIDANCE OF 155,000-160,000 BOEPD.AKER BP SEES 2018 PRODUCTION COST AT $12 PER BARREL VERSUS PREVIOUS GUIDANCE $12/BARREL.AKER BP SEES 2018 CAPITAL EXPENDITURE AT $1.3 BILLION VERSUS PREVIOUS GUIDANCE $1.3 BILLION.AKER BP SEES 2018 EXPLORATION EXPENSES AT $425 MILLION VERSUS PREVIOUS GUIDANCE $350 MILLION.AKER BP SEES 2018 DECOMMISSIONING COSTS AT $250 MILLION PREVIOUS GUIDANCE $350 MILLION.SAYS THE BOARD’S INTENTION IS TO INCREASE THE DIVIDEND LEVEL BY USD 100 MILLION EACH YEAR UNTIL 2021.SAYS LOWER DECOM ESTIMATES LOWER DUE TO ACCELERATED EXECUTION OF THE CAMPAIGN TO PLUG AND ABANDON OLD WELLS AT VALHALL..  Full Article

BRIEF-Norway's Aker BP Q2 lags, firm ups exploration spending
Friday, 13 Jul 2018 

Repeats to attach article to alerts, no changes in text:AKER BP Q2 OPERATING PROFIT $552 MILLION (REUTERS POLL $573 MILLION).COMPANY'S NET PRODUCTION IN Q2 WAS 157.8 (142.7) THOUSAND BARRELS OF OIL EQUIVALENTS PER DAY.AKER BP Q2 REVENUES $975 MILLION (REUTERS POLL $1,001 MILLION).AKER BP Q2 NET RESULT $136 MILLION (REUTERS POLL $162 MILLION).AKER BP QUARTERLY DIVIDEND $0.3124 PER SHARE (REUTERS POLL $0.31).AKER BP Q2 PRODUCTION AT 157,800 BOEPD (REUTERS POLL 157,800 BOEPD).COMPANY REMAINS ON TRACK TO REACH ITS FULL-YEAR PRODUCTION ESTIMATE OF 155-160 MBOEPD..BOARD OF DIRECTORS HAS RESOLVED TO PAY SAME DIVIDEND IN AUGUST OF USD 0.3124.PLAN IS TO MAINTAIN THIS LEVEL FOR REMAINDER OF 2018, IMPLYING TOTAL ANNUAL DIVIDENDS OF USD 450 MILLION.BOARD'S AMBITION IS TO INCREASE ANNUAL DIVIDENDS BY USD 100 MILLION PER YEAR UNTIL 2021..AKER BP SEES 2018 PRODUCTION AT 155,000-160,000 MBOEPD VERSUS PREVIOUS GUIDANCE OF 155,000-160,000 BOEPD.AKER BP SEES 2018 PRODUCTION COST AT $12 PER BARREL VERSUS PREVIOUS GUIDANCE $12/BARREL.AKER BP SEES 2018 CAPITAL EXPENDITURE AT $1.3 BILLION VERSUS PREVIOUS GUIDANCE $1.3 BILLION.AKER BP SEES 2018 EXPLORATION EXPENSES AT $425 MILLION VERSUS PREVIOUS GUIDANCE $350 MILLION.AKER BP SEES 2018 DECOMMISSIONING COSTS AT $250 MILLION PREVIOUS GUIDANCE $350 MILLION.SAYS THE BOARD’S INTENTION IS TO INCREASE THE DIVIDEND LEVEL BY USD 100 MILLION EACH YEAR UNTIL 2021.  Full Article

Aker BP's Q1 profit beats forecast
Monday, 7 May 2018 

May 7 (Reuters) - Aker BP ASA ::AKER BP Q1 REVENUES $890 MILLION (REUTERS POLL $888 MILLION).AKER BP Q1 OPERATING PROFIT $472 MILLION (REUTERS POLL $449 MILLION).AKER BP Q1 NET RESULT $161 MILLION (REUTERS POLL $137 MILLION).AKER BP QUARTERLY DIVIDEND $0.3124 PER SHARE (REUTERS POLL $0.31).AKER BP SEES 2018 PRODUCTION AT 155-160 MBOEPD VERSUS PREVIOUS GUIDANCE OF 155,000-160,000 BOEPD.PLAN IS TO MAINTAIN THIS DIVIDEND LEVEL FOR REMAINING QUARTERS OF 2018, IMPLYING TOTAL ANNUAL DIVIDENDS OF USD 450 MILLION.BOARD'S AMBITION IS TO INCREASE ANNUAL DIVIDENDS BY USD 100 MILLION PER YEAR FROM 2019 TO 2021.AMBITION TO DEVELOP NOAKA AS FIRST ZERO EMISSION FIELD ON NCS.AKER BP SEES 2018 PRODUCTION COST AT ABOUT $12 PER BARREL VERSUS PREVIOUS GUIDANCE $12/BARREL.NOAKA AREA REPRESENTS A SIGNIFICANT NEW GROWTH OPPORTUNITY FOR AKER BP, WITH GROSS RESOURCES OF MORE THAN 500 MMBOE.AKER BP SEES 2018 CAPITAL EXPENDITURE AT $1.3 BILLION VERSUS PREVIOUS GUIDANCE $1.3 BILLION.RECOMMENDS DEVELOPING NOAKA WITH A NEW HUB PLATFORM, WHICH WOULD ENSURE PRODUCTION FROM ALL DISCOVERIES IN AREA AS WELL AS HIGHER RESOURCE RECOVERY AND SOCIO-ECONOMIC BENEFITS THAN ALTERNATIVE.AKER BP SEES 2018 EXPLORATION EXPENSES AT $350 MILLION VERSUS PREVIOUS GUIDANCE $350 MILLION.COMPANY IS TARGETING A NOAKA CONCEPT SELECTION IN 2018.AKER BP SEES 2018 DECOMMISSIONING COSTS AT ABOUT $350 MILLION PREVIOUS GUIDANCE $350 MILLION.  Full Article

Oil firm Aker BP's reserves rose in 2017 after acquisitions
Monday, 12 Mar 2018 

March 12 (Reuters) - Aker Bp Asa ::TOTAL NET PROVEN RESERVES (P90/1P) AS OF DEC 31 ESTIMATED AT 692 MILLION BARRELS OF OIL EQUIVALENTS‍​.AKER BP: TOTAL NET PROVEN PLUS PROBABLE RESERVES (P50/2P) ARE ESTIMATED AT 914 MILLION BARRELS OF OIL EQUIVALENTS.AKER BP SAYS 1P RESERVES INCREASED BY 163 MILLION DURING 2017 TO 692 MILLION BARRELS OF OIL EQUIVALENT.AKER BP SAYS 2P RESERVES INCREASED BY 202 MILLION DURING 2017 TO 914 MILLION BARRELS OF OIL EQUIVALENT.AKER BP: MAIN REASONS FOR INCREASE IN NET RESERVES ESTIMATE IN 2017 ARE THE NEW VALHALL DEVELOPMENT PROJECT VALHALL FLANK WEST, THE NEW AERFUGL DEVELOPMENT PROJECT AND THE INCREASED EQUITY TO 90 PERCENT IN VALHALL AND HOD.AKER BP: AT THE END OF 2017 JOHAN SVERDRUP ACCOUNTS FOR 33 PERCENT OF THE COMPANY'S RESERVES, DOWN FROM APPROXIMATELY 42 PERCENT IN 2016.  Full Article

Aker BP sees 2019 Capital spending similar to 2018
Monday, 15 Jan 2018 

Jan 15 (Reuters) - Aker Bp Asa ::AKER BP CFO ALEXANDER KRANE SEES 2019 CAPITAL SPENDING "PERHAPS NOT TOO FAR AWAY FROM WHERE WE ARE TODAY".AKER BP CFO SAYS DECOMMISSIONING COSTS ARE EXPECTED TO GO DOWN, WHILE EXPLORATION SPENDING DEPENDED ON DRILLING RESULTS THIS YEAR.  Full Article

Aker BP CEO says more M&A could further boost dividend
Monday, 15 Jan 2018 

Jan 15 (Reuters) - Aker BP ASA's : CEO Karl Johnny Hersvik said on Monday::COMPANY IS TARGETING FURTHER SELECTIVE M&A GROWTH TO INCREASE SHAREHOLDER VALUE "AND, IF POSSIBLE, TO INCREASE THE DIVIDENDS".  Full Article

Oil firm Aker BP completes takeover of Hess' Norway unit
Friday, 22 Dec 2017 

Dec 22 (Reuters) - Aker Bp Asa ::ACQUISITION OF HESS NORGE COMPLETED.‍ALL CLOSING CONDITIONS HAVE BEEN FULFILLED, AND CLOSING OF TRANSACTION TOOK PLACE ON 22 DECEMBER 2017​.  Full Article

Odfjell Drilling wins $105 mln Aker BP rig contract
Thursday, 21 Dec 2017 

Dec 21 (Reuters) - Odfjell Drilling Ltd ::‍FIRST CALL-OFF UNDER AKER BP ALLIANCE HAS BEEN RECEIVED TODAY​.COVERS A 12 MONTHS CONTRACT FOR DEEPSEA STAVANGER AND WILL START AS SOON AS UNIT RETURNS TO NORWAY AFTER ITS CONTRACT WITH TOTAL IN SOUTH AFRICA, EXPECTED TO BE IN Q2 2019​.‍FIRM CONTRACT VALUE IS APPROXIMATELY USD 105 MILLION EXCLUDING POTENTIAL PERFORMANCE BONUSES​.  Full Article

Deals of the day-Mergers and acquisitions

Oct 15 The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday: